Overview of Period Close

While implementing your accounting configuration, optionally define and maintain period close components, including allocations and periodic entries, revaluations, and historical rates.

If you use allocations, revaluation, or translation, configure the following tasks in the Define Period Close Components task list in your implementation project:

• Manage Allocations and Periodic Entries

• Manage Revaluations

• Manage Historical Rates

As a best practice, always review the subledger period close exception report before closing the accounting period.